Indonesia to Unveil Sharia Economic Master Plan

Indonesia will aim to push interest-free Islamic banking into the mainstream and boost domestic production of halal (permissible) foods, products and services when the world’s most populous Muslim-majority country unveils its first Sharia economic master plan on Tuesday, a government official said.

The plan outlines efforts to grow Islamic economic sectors such as finance, manufacturing, food, fashion and tourism, Muhammad Cholifihani, director of financial services at the National Development Planning Board, told BenarNews.

The Sharia plan will not replace the economic system of the multi-religious country but instead support development through Islamic-friendly programs as a component of the overall economy.

“We aim for improvements in terms of economies of scale, economic independence and our ranking in the Global Islamic Economy Report,” Cholifihani said, adding that strengthening small- and medium-sized enterprises was among the goals.

Officials hope that by improving the climate for Islamic finance, the government would attract investment from oil-rich Middle Eastern countries and others, which want to invest in ethically and socially responsible projects, according to the planning board.

Officials did not release the master plan ahead of its unveiling.

Full story: BenarNews

Ami Afriatni
Jakarta